The American Action Forum (@AAF) released research examining the cumulative impact of regulations on employment. AAF found that when agencies impose three economically significant regulations that impact small business, the affected industry employment declines by up to 20 percent.

A regulation is considered to be economically significant when it has an annual impact of $100 million or more. 32 industries were affected by 8 different economically significant regulations. The automotive and manufacturing industries faced the most significant regulations.